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  • NJ A3972
  • Provides gross income tax credit to persons purchasing or leasing alternative fuel vehicles.
Introduced
(6/20/2016)
In Committee
(6/20/2016)
Crossed OverPassedSignedDead/Failed/Vetoed
2016-2017 Regular Session
This bill establishes: 1) a tax credit of up to $5,000 for the purchase, or lease for at least 30 months, of a qualified alternative fuel vehicle by an eligible taxpayer for personal use; and 2) an additional tax credit of $1,500 for a low-income eligible taxpayer whose household income is less than 300 percent of the federal poverty level for the taxable year in which the purchase or lease is made. The bill defines: 1) an eligible taxpayer as a person whose household income is equal to or less than $100,000 when filing for federal income tax purposes as single or married filing separately, or $200,000 when filing for federal income tax purposes as married filing jointly, a surviving spouse, or single head-of-household; and 2) a qualified alternative fuel vehicle as an alternative fuel vehicle certified as qualified for the tax credit by the Commissioner of Environmental Protection and including a fuel-cell vehicle, electric vehicle, compressed natural gas vehicle, or a plug-in hybrid vehicle, but not any hybrid vehicle other than a plug-in hybrid vehicle.
Transportation and Independent Authorities
Introduced, Referred to Assembly Transportation and Independent Authorities Committee  (on 6/20/2016)
 
 

Date Chamber Action Description
6/20/2016 A Introduced, Referred to Assembly Transportation and Independent Authorities Committee
Date Motion Yea Nay Other
None specified